Form 4: Forager Fund, L.P. Reduces Stake in Willdan Group, Inc. (WLDN) Through Multiple Transactions

Forager Fund, L.P., along with related individuals, sold shares of Willdan Group, Inc. (WLDN) between May 6 and May 8, 2024, reducing their holdings.

Summary

• Forager Fund, L.P. sold shares of Willdan Group, Inc. (WLDN) in multiple transactions between May 6 and May 8, 2024.
• On May 6, 2024, 10,830 shares were sold at a weighted average price of $32.8442 per share, resulting in a remaining direct holding of 1,630,428 shares.
• On May 7, 2024, an additional 11,480 shares were sold at a weighted average price of $33.2151 per share, leaving 1,618,948 shares.
• On May 8, 2024, 5,707 shares were sold at a weighted average price of $33.0117 per share, resulting in a final holding of 1,613,241 shares.
• Edward Kissel and Robert MacArthur, as principals of Forager Capital Management, LLC, the general partner of Forager Fund, L.P., have shared authority over these shares but disclaim beneficial ownership except to the extent of their pecuniary interest.
• Mr. Kissel directly holds 11,402 shares, his spouse holds 1,775 shares, and Mr. MacArthur directly holds 271 shares.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the reduction in stake by a significant holder, which could indicate a lack of confidence or a change in investment strategy. However, the transactions appear to be orderly and at market prices.

Negatives

• Forager Fund, L.P. reduced its stake in Willdan Group, Inc., which could be interpreted negatively by the market.

Risks

• Continued selling pressure from Forager Fund, L.P. could further depress the price of WLDN shares.
• The market may react negatively to the reduced stake, potentially impacting investor confidence.

Industry Context

Share sales by significant holders are common and can be driven by various factors, including portfolio rebalancing or profit-taking. The impact on the stock price depends on the size of the sale relative to the trading volume and overall market sentiment.

Stakeholder Impact

• Shareholders may experience short-term price volatility due to the share sales.
• Employees are unlikely to be directly impacted unless the sales signal a larger strategic shift.
• Customers and suppliers are unlikely to be directly impacted.

Key Dates